State soybean value grew $1B since 2006

MISSISSIPPI STATE -- Soybeans have been an important commodity in Mississippi for more than 50 years, but recent advances have pushed the crop’s value above $1 billion.

Mississippi soybeans had a value of $267 million in 2006, $1.27 billion in 2012 and $1.17 billion in 2013. Prices have been high for the past several years, but state producers put more effort into management and increased yields to a record average of 45 bushels an acre in 2012 and 2013.

“Soybean prices have been favorable in recent years, and combined with better management to produce higher yields, the crop has become an even more significant contributor to agricultural value in the state,” said Greg Bohach, vice president of the Mississippi State University Division of Agriculture, Forestry and Veterinary Medicine. “In the past decade, yields have steadily increased. The acreage devoted to soybeans has stayed fairly constant at about 2 million acres for the last six years.”